Quick commerce platform Zepto on Thursday announced it has closed a $450-million financing round, in a mix of primary and secondary transactions, led by the US-based pension fund California Public Employees’ Retirement System (CalPERS).

The latest funding round values the company at $7 billion, a significant jump from its $5 billion-valuation during its last fundraise in 2024.

“This financing is a reflection of our team’s execution to grow the business rapidly while consistently building operating leverage. We now have approximately $900 million of net cash in bank and more than well-capitalised for the future,” said Aadit Palicha, CEO & co-founder, Zepto.

The round also saw participation from existing investors including Avenir, Avra, Lightspeed, Glade Brook, The Stepstone Group, and

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